In February 2016, the Chinese state-owned chemical giant ‘China National Chemical Corporation’ (commonly called ChemChina) announced its offer of US$ 43 billion for the acquisition of Swiss agribusiness giant Syngenta. On June 8, 2017, ChemChina announced that it had completed a deal to buy Syngenta and that it had already purchased 94.7% of Syngenta’s shares by that date. This deal was the largest-ever foreign acquisition by a Chinese firm (as of 2017), indicating China’s rising power in the global market. The acquisition had emanated from China’s quest to increase its food production and thereby resolve global food security woes, primarily caused by the growth in the world’s population.

China, the world’s second-largest market for crop seeds, had been looking for ways to improve its crop production and according to Syngenta Chairman Michel Demaré (Demaré), ChemChina’s ownership of a top global supplier of seeds and pesticides would hasten the expansion of the agricultural sector in China. “I think we get a lot of opportunities to totally transform the landscape for agriculture in China,” said Demare. Apart from this, market experts believed that this deal would also give China more control over global food production, as it would gain access to innovative technologies along with Syngenta’s patented seeds.

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